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Federal Contractor Agrees to Pay More Than $6 Million to Settle Overbilling Allegations DOJ

Explaining GameStop hearing terms: Payment for order flow AXIOS Payment for order flow, or PFOF, sits at or near the top of the list of people's complaints about market structure. read more » Explaining GameStop hearing terms: Short-selling AXIOS

GameStop bull 'Roaring Kitty,' MassMutual hit with securities lawsuit REUTERS The social media persona “Roaring Kitty” at the center of last month’s frenzied rally in shares of GameStop Corp violated securities laws and caused “huge losses” for investors, according to a class action lawsuit filed in federal court in Massachusetts. read more »

SEC Data Show $359 Million of GameStop Shares Failed to Deliver YAHOO FINANCE On Jan. 28, the day after GameStop Corp. mania hit its crescendo on the back of a short squeeze for the record books, about $359 million worth of shares were caught in limbo. read more » Big Tech faces additional pressure from private antitrust lawsuits NEW YORK TIMES

Robinhood CEO admits communications shortcomings, ahead of House testimony REUTERS Robinhood, the trading app popular with young investors, could have better explained why it restricted the buying of heavily shorted stocks caught up in the social media-fueled trading frenzy around GameStop Corp, said the company’s chief executive officer. read more »

Drug companies seek billion-dollar tax deductions from opioid settlement WASHINGTON POST

Tesla Bitcoin purchase could launch SEC investigation, former Branch Chief says TESLARATI

This California bill could help more tech whistleblowers speak out FAST COMPANY

Roche Diagnostics and Humana settle $12.5 million Medicare fraud lawsuit INDIANAPOLIS STAR

Are share-trading apps a safe way to play the markets? THE GUARDIAN

Clover Health shares dip as SEC looks into short-seller allegations REUTERS U.S. regulators are following up on a critical report about Clover Health Investments Corp by short-selling specialist Hindenburg Research and have told the insurance company to preserve any relevant documents. read more » A Bigger Risk Than GameStop? Beware the Ponzi Scheme Next Door NEW YORK TIMES

McKinsey reaches $573 million settlement with US states over role in opioid crisis REUTERS McKinsey & Co, the consulting firm, has agreed to pay $573 million to resolve investigations by most U.S. states over its alleged role in “turbocharging” sales of opioids, fueling a nationwide epidemic. read more »

GameStop frenzy prompts Yellen to call meeting with SEC, Fed POLITICO Treasury Secretary Janet Yellen will meet with key financial regulatory agencies to scrutinize recent price surges in GameStop stock and other companies, the latest move by policymakers to respond to market maneuvers tied to a group of investors on Reddit. read more » How Rich Hospitals Profit From Patients in Car Crashes NY TIMES

Anyone Can Manipulate the Market. Here’s How to Fix That NY TIMES

The Silicon Valley Start-Up That Caused Wall Street Chaos NY TIMES

SEC issues warning as GameStop short-selling war resumes REUTERS The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning both brokerages and the pack of social media traders that it was closely monitoring potential wrongdoing.

Wall Street Insider Turned Tough Market Cop: Biden's Pick to Head SEC NPR

Former Insys exec John Kapoor gets 5 1/2 years for opioid scheme CNBC John Kapoor, 76, the former chairman of Insys Therapeutics, was sentenced to five and a half years in prison in Boston’s federal court. A jury found him guilty of racketeering conspiracy last May and prosecutors said his actions helped fuel the opioid crisis.

Attorney General Becerra Announces $40 Million Nationwide Settlement with Apria Healthcare STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Georgetown University academic Chris Brummer in lead for CFTC chair REUTERS Georgetown University academic Chris Brummer has emerged as the leading candidate to chair the Commodity Futures Trading Commission (CFTC), according to three people with knowledge of the discussions. The White House is expected to make an announcement on that and other financial regulator roles soon, one of the people said. read more »